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Home » Industry News » Petrochemicals Oil & Gas » A look at the new tough climate blueprint for big oil companies

A look at the new tough climate blueprint for big oil companies

Investors managing more than $10 trillion on Wednesday published an ambitious blueprint for energy companies seeking to tackle climate change, including sharp cuts to greenhouse gas emissions and a winding down of oil and gas production.

The unprecedented initiative – dubbed the Net Zero Standard for Oil and Gas – details 10 required standards to help money managers compare companies’ strategies and understand whether they are aligned with United Nations-backed efforts to reduce global carbon emissions to net zero by 2050.

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